I think SIFY is poised for a pop with the prospect of a 200 million USD turnover for the year. A lot of negatives are priced in presenting a buying opportunity. As some of the different business segments are nearing maturity leading to rising revenues and lower cost of revenue, the profitability should rise. The cost of infrastructure renewal will naturally be passed on to customers. The demand for the company's services is reportedly robust and the presentation of the management at the call was quite bullish.
The capital increase has been much debated and still leaves some fears among investors. The management will do well to come out with some bold initiatives to improve sentiment. Cancellation of the Indian shares that is not yet paid up and a reverse split of the remaining to better reflect the ADR prices at the time of issue could be useful suggestions.
You make some interesting points. However your last paragraph is highly unlikely since its original structure was proof to me that Raju is more interested in taking care of Raju than the holders of the ADRs. GLTY
Thanks. They did make announcements at that time and even filed a detailed statement to SEC after investor protest (did not come early enough at that time). The explanation was in fact quite convincing, but the pricing of the Indian shares remains the issue. Anyway, some pro-ADR-investor gesture is required to regain confidence. I think it will come sooner than later as they will be the biggest beneficiary of such an action.
Good luck to you too...